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The Nigerian stock market ended in negative territory on October 10, 2024, as the All-Share Index (ASI) dipped by 0.01%, losing 9.95 points to close at 97,477.19.
Trading activity also saw a noticeable decline, with volumes dropping by 22% compared to the previous session.
A total of 277 million shares were traded, down from 356 million shares exchanged the day before.
Amid the overall downturn, REGALINS and CAVERTON delivered impressive gains throughout the session, while FIDELITY BANK, UBA, and ZENITH BANK led in trading volume.
The day saw 7,091 deals executed, bringing the total market capitalization to N56.01 trillion.
Among the top gainers, REGALINS took the lead with a 10.00% increase, closely followed by CAVERTON, which rose by 9.73%.
Conversely, DAARCOMM suffered the steepest loss, plummeting 10.00%, while LIVESTOCK and SUNUASSUR also faced significant declines, dropping 9.88% and 9.71%, respectively.
Market Summary
- Current ASI: 97,477.19 points
- Previous ASI: 97,487.14 points
- Day Change: -0.01%
- Year-to-Date Performance: +30.36%
- Volume Traded: 277 million shares
- Deals: 7,091
Top 5 Gainers
- REGALINS: up 10.00% to N2.53
- CAVERTON: up 9.73% to N2.48
- ROYALEX: up 8.70% to N0.75
- ABCTRANS: up 8.20% to N1.32
- UPL: up 7.14% to N2.55
Top 5 Losers
- DAARCOMM: down 9.84% to N4.40
- LIVESTOCK: down 9.88% to N3.10
- SUNUASSUR: down 9.71% to N1.58
- FIDSON: down 9.71% to N13.95
- CONHALLPLC: down 9.29% to N1.27
Trading Volume
The market experienced a significant dip in trading volume, with 277 million shares changing hands—a 22% decrease from the previous session’s 356 million shares.
FIDELITYBK led the trading activity with 35.6 million shares, followed by UBA, which saw 30.63 million shares traded. Other active stocks included ZENITHBANK with 25.55 million shares, LASACO with 22.11 million shares, and ACCESSCORP with 18.45 million shares.
Trading Value
ZENITH BANK recorded the highest trading value with transactions worth N956.67 million, followed closely by UBA with a trading value of N820.73 million.
FIDELITY and OANDO also saw strong trading values of N644.78 million and N382.93 million, respectively, while ACCESSCORP registered deals worth N361.24 million.
SWOOT and FUGAZ Performance
The SWOOT stocks—AIRTEL, BUA CEMENT, BUA FOODS, GEREGU POWER, SEPLAT, and DANGOTE CEMENT—remained stable with no price changes.
In contrast, the FUGAZ category experienced some declines, with UBA and ACCESS BANK dropping by 1.67% and 0.77%, respectively. FBNH closed flat, while GTCO and ZENITH BANK gained 1.59% and 0.4%, respectively.
Market Outlook
Despite today’s downturn in both the index and trading volumes, analysts remain optimistic about a rebound in the coming days, particularly within banking stocks.
With investor sentiment pointing towards recovery, the index could see gains as trading activity gradually revives across key sectors.
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